Nov 20 2010
United Solar, a leading global manufacturer of light-weight, flexible thin-film solar modules and a wholly-owned subsidiary of Energy Conversion Devices (Nasdaq:ENER), announced today it will supply six megawatts of UNI-SOLAR brand photovoltaics for a 9.7 megawatt portfolio of solar projects developed by Winch Energy, in the region of Puglia, Italy.
The majority of projects will be fitted with UNI-SOLAR brand photovoltaics, which are known for their superior performance ratio in high ambient temperatures and high energy yield on a kilowatt-hour per kilowatt basis. The projects are to be built by Global Energy Services and are expected to be connected to the grid by March 2011, benefiting from the 20-year Italian feed-in tariff.
All of the projects, once operational, will help eliminate 9,000 tons of carbon annually from current fossil fuel energy creation, while producing enough energy to supply 3,200 average homes.
"These large-scale multi-site projects are a further demonstration of United Solar's ability to supply premium, technologically-advanced photovoltaics for the international marketplace," said Mark Morelli, President and CEO of United Solar's parent company, Energy Conversion Devices. "We are rooftop experts and look at large installations as opportunities to deploy more UNI-SOLAR product, gain important field experience and drive volume through our factories. We look forward to this new partnership with Winch Energy being a great success for all parties involved, and for its positive impact on our global environment."
Ampere Equity Fund recently acquired a majority stake in the project, with senior debt financing arranged by Investec Bank PLC. In addition, Fichtner served as technical advisor on the project.
"This portfolio of projects additionally provides United Solar the opportunity to partner with two of the world's premier financial institutions, which enhances UNI-SOLAR's bankability. Investec and Ampere are examples of high-quality financing sources that have chosen to invest in UNI-SOLAR products, which have met their technical and financial investment criteria," concluded Morelli.
Source: http://www.uni-solar.com/